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Micron's Rally Looks Overdone Until You Price The Memory Shortage
Trefis8h agobullish
Micron's Rally Looks Overdone Until You Price The Memory Shortage

Micron Technology (MU) stock has returned 552% over the past twelve months. At near $1,070 a share, has the price run ahead of the business? On the last twelve months of adjusted earnings, meaning normalized net income with stock-based compensation added back, Micron trades at about 23.5 times. That number looks backward, and memory prices have moved too fast for it to show what Micron earns today.